Icesave rate increased to 5.95% w.e.f. May 18th

KTF

I wonder if the A&L Direct Saver will increase to match this. I knew I should have shifted my money out of it on the first and over to icesave

martyn4764

Now on the Icesave site:

"10/05/07 - Bank of England Base Rate increased

The Bank of England today announced an increase in the Base Rate from 5.25% to 5.50%. Icesave is committed to offering a consistently competitive return on our Easy Access Savings Account and will be increasing the interest rate from 5.70%AER to 5.95%AER with effect from Friday 18 May."

Secret_Wookie

GCH888 wrote: »

A&L better do something about it's 5.80%AER DirectSaver or else come 1st June there's going to be a lot of people closing their accounts. Same goes for the HSBC 5.75%AER Online Saver which wasn't that competitive in the first place given the penalties attached.

I have heard that it is highly likley the HSBC online Saver will be going up to 6.00%. Cna't find out about A&L at the moment.

McSaver

Kazza242 wrote: »

Thisismoney's Has your savings rate increased? article wrongly states that Icesave's rate will increase to 5.90%.

This has now been rectified on thisismoney. SORTED!!!

Icesave themselves have comfirmed the full quarter point as well so thats the end of this discussion.

Kazza242

McSaver wrote: »

This has now been rectified on thisismoney. SORTED!!!

Icesave themselves have comfirmed the full quarter point as well so thats the end of this discussion.

If you looked at my first post on this thread, here you'll see that I edited it at 3:06pm today with confirmation that Icesave had indeed increased their rate to 5.95%. So your post is redundant. I also posted in much earlier posts that thisismoney had corrected the rates displayed on their page to match Moneyfacts and Icesave. It's all good.:D

gelato_cat

Realise I am being picky, but aren't Icesave contravening their own guarantee at the moment, given they say their rate will be 0.25% above base, but the rate is staying at 0.20% above base until Friday, when they raise it to 5.95%?

Might have missed the bit in the T&C where they say changes might take up to seven working days or whatever.

Not ungrateful - I realise it's a good rate in any case, just curious. I noticed NS&I put their rate up with immediate effect.

Suze

Kazza242 wrote: »

According to Moneyfacts:

Icesave's rate increases from 5.70% to 5.95% from May 18th.

Thisismoney's Has your savings rate increased? article wrongly states that Icesave's rate will increase to 5.90%.

EDIT: The Icesave website now confirms the rate increase to 5.95%, here.

david78

Hi Suzey,

The Terms and Conditions say they have 10 business days to make the change so they are not breaking any rules by waiting till Friday. Others, like NS&I don't have this and are forced to put their rates up immediately.

Incidentally, ICESAVE have now started sending out emails about the new rate (5.95% AER)

gelato_cat

Thanks - thought so, but didn't want to go through the T&Cs!

Got my e-mail this morning

Suze

david78 wrote: »

Hi Suzey,

The Terms and Conditions say they have 10 business days to make the change so they are not breaking any rules by waiting till Friday. Others, like NS&I don't have this and are forced to put their rates up immediately.

Incidentally, ICESAVE have now started sending out emails about the new rate (5.95% AER)